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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: DanWebzster who wrote (22023)	4/27/2001 8:21:03 PM
From: TATRADER	Respond to of 59879

Trading Lesson: Stock under consideration is MTP Below is how I quickly analyze a stock in less than 5 minutes...I do more research if I consider buying, but this should get you started... 1)Look at ADX--reading of 45 and declining showing that the negative trend is losing momentum.. -D1 is larger than +D1 so the negative trend still is in command 2)Look for large volume areas from past... Large volume on 4/3/01, shows buying and support at 11.19 3)Pattern---analyze it you have here a spike and ledge formation Ledge shows a trading range of 11.50 by 12.50 4)Check out 30 period envelope channel Envelope shows resistance at 12.50 5)Check out 30 period Bollinger Bollinger not displaying any tightening on the bands, so confirms trading range stock and no immiment breakout seen 6)Shares outstanding is 103.76 million not a fast mover when it does move, best movers are 15 million shares outstanding or less 7) 20 day simple moving average at 12.27 Showing again upper resistance area... 8) Gann Retracement study----showing resistance at 12.50 and 13.00 and support at 11.50 Conclusion: This is a trading range stock from 11.50 to 12.50...You can play the range, but its only worth 1 point and it could indeed be slow as it moves from one part of range to other...So I pass on it... However, if you see a level of volume pickup, where 5 day simple, 15 day simple is increasing as it moves toward one end or the other let me know...On a break it could be a quick 1 point, and that would interest me... Going to watch Space Cowboys with family...Have a good weekend.... Mark